BorgWarner Shares Jump on Double Digit Earnings Guidance for 2007
Shares of BorgWarner surged after the auto parts maker said it expects earnings growth of greater than 10% in 2007, supported by strength in Europe and Asia and in line with historical rates.
BorgWarner said it expects 2007 earnings per share of $4.60 to $4.80 and sales growth of 7%to 9%.
Analysts on average expect BorgWarner to earn $4.58 per share, according to Thomson Financial.
BorgWarner also said it expects operating margins to improve in 2007 over 2006, toward the low end of its historical range of 8.5% to 9%.